Audio Interview

Uncertainty and continuity: preparing for long-term changes to the global economy

Published on August 13, 2025   38 min

Other Talks in the Playlist: Interviews with business leaders and scholars

Please wait while the transcript is being prepared...
0:00
Interviewer: Today, I'm interviewing Professor Michael Spence on his article The Economic Consequences of the Trump administration's policies published in Project Syndicate on 14th of May 2025. Listeners are expected to have read the article before listening. Professor Spence is the Philip H Knight Professor and dean, emeritus, at Stanford Graduate School of Business and a Nobel laureate. A link to his very impressive biography accompanies this interview. The focus is on how governments and businesses worldwide should prepare for the economic, financial, scientific, and institutional changes that will emerge over the coming years. Professor Spence, thank you for sparing the time. If I understood your article correctly, there are three main possibilities. One, USA policy abandons what may be called Trumpism before the consequences are embedded. In which case, we revert to a modified form of globalism. Two, the world essentially divides into two main trading blocks: USA and the rest. Three, the worst outcome, we get regional trading blocks. So two questions. One, is that summary correct? Two, if it is, is what will happen be determined by the major countries prioritizing either to pursue economic goals for the betterment of their citizens or

Quiz available with full talk access. Request Free Trial or Login.

Hide

Uncertainty and continuity: preparing for long-term changes to the global economy

Embed in course/own notes